Bonk Teams Up With Bitcoin Capital To Launch First ETP on European Exchange, SIX

Bonk, the popular community-driven meme coin on Solana, has launched the first BONK exchange-traded product (ETP) on the SIX Swiss Exchange in partnership with Bitcoin Capital. The BONK ETP will track the price of the meme coin on SIX Swiss Exchange.

The First BONK ETP Goes Live on the SIX Exchange

Solana-based meme coin Bonk (BONK) announced on Thursday that it has launched the first ETP on Switzerland’s largest stock exchange, SIX Swiss Exchange. The BONK ETP was launched via a partnership with the Swiss investment firm Bitcoin Capital. Per the announcement, the new BONK investment product will be issued by Bitcoin Capital. 

Bitcoin Capital noted that the BONK ETP is 100% physically backed by BONK tokens, which it holds in its reserve. According to Bitcoin Capital, the BONK ETP will now allow institutional and retail investors to buy and sell Bonk just like traditional stocks through traditional brokerage accounts. 

With the BONK ETP, investors no longer need cryptocurrency expertise or complex digital wallets to buy and hold the meme coin. Bitcoin Capital’s CEO Marcel Niederberger explained that the BONK ETP means easier access to the Bonk ecosystem for retail and institutional investors. 

Niederberger explained that with the Bonk ETP now listed on SIX Swiss Exchange, investors can bypass crypto exchanges and wallets to invest and trade in Bonk just like any other stock.

Why Bonk ETP Launched in Europe

While there has been a surge in crypto products in America over the last few months, Bitcoin Capital opted to launch the first Bonk ETP in Europe. Niederberger explained that the regulatory framework and market infrastructure of Switzerland made it the “preferred venue for launching a BONK ETP.”

He explained that SIX Swiss Exchange offers a highly developed regulatory ecosystem with consistent supervisory practices. In addition, launching on SIX means that the BONK ETP can reach both institutional and retail investors via a network of already established broker platforms.

Niederberger further notes that regulated ETP access will likely boost investor confidence and liquidity in the BONK ETP. This is because most inflows for other digital asset products launched by Bitcoin Capital still come from institutional desks.

Niederberger expects more products referencing BONK to launch within the next year. This is because the European infrastructure is maturing with a rising appetite for digital assets like Bonk. He expects this trend to open the door to “additional ETPs and structured notes.”

Bonk Joins the Wave of Meme Coin Products

Bitcoin Capital’s Bonk ETP is the first Bonk-backed product in Europe, and it expands the meme coin’s reach beyond digital asset platforms and into mainstream financial markets. However, the launch comes amidst an increase in the number of meme coin investment products entering regulated markets, led mainly by Dogecoin. 

In September, Rex-Osprey Dogecoin ETF was the first U.S. fund to hold DOGE. Grayscale recently launched its spot GDOG product, while 21Shares unveiled a 2x leveraged Dogecoin ETF last week. While REX Shares filed for a BONK ETF in January, an approval has yet to be received. This trend shows the increasing interest in meme coins from institutional investors.